The Investment Managers sector is highly responsive to economic trends. An ageing population, as well as the investment needs of the younger generation and of emerging countries continue to drive the sector.
The industry itself, however, is likely to consolidate around a smaller number of mega-managers and large niche players and an increase in the number of strategic alliances. Independent asset managers are becoming more significant. Regulatory scrutiny will only increase.
Regulatory capital requirements and other regulatory changes, such as the Alternative Investment Fund Managers Directive (AIFMD) and the Market in Financial Instruments Directive (MiFID II) in Europe; and the Volker Rule and Dodd-Frank in the United States are resulting in structural changes.
Banks are deleveraging, whether needing to sell or to focus on their core business. Alternative Credit Providers (ACPs) are continuing to fill the gap left by banks who are unable or unwilling to lend.
Standalone asset managers, investment management arms of banks and insurance conglomerates and alternative asset managers, including hedge funds and ACPs - both onshore and offshore - rely on Linklaters’ understanding of the commercial, competitive and regulatory pressures being faced.
We draw on our global corporate, finance and regulatory expertise to advise investment management clients in mature and emerging markets on matters including corporate/M&A, regulatory, investment funds, employment, tax and banking.
To discuss, please contact one of Linklaters’ Investment Management Sector Leaders: Edward Smith, Edward Chan, Peter Bevan or Lorna Bowen.
You can find out more about Linklaters’ investment management capabilities from sector manager Alison Dwyer.
Investment Managers sector experience includes advising:
- Julius Baer Group Ltd. on the acquisition of the non-US Global Wealth and Investment Management business of Bank of America Merrill Lynch, comprising US$84bn of assets under management
- KLS Diversified Asset Management, a U.S. investment group, on a landmark deal with Funding Circle, a UK P2P platform, to lend £132m to small British businesses
- the investment arm of a Canadian state pension fund on its £175m formation of a joint venture with Greystar Real Estate Partners, LLC
- Bridgepoint Advisers Limited and Quilter Cheviot on the £585m sale of Quilter Cheviot to Old Mutual Wealth
- KKR on the acquisition of Avoca Capital, a leading European credit investment manager